ISLAMABAD : (Parliament Times) Federal government is mulling to hike withholding tax on electricity price by 3pc for commercial users consuming electricity worth Rs20,000 or more monthly.
With an increase of 3pc, the withholding tax on electricity would go up to 15pc from 12pc for commercial users.
Sources privy to development revealed that tax ratio would remain at 5pc for industrial consumers of electricity.
Currently, commercial and industrialist users pay tax worth Rs80 to Rs1500 on consuming electricity up to Rs20,000 whereas if it exceeds Rs20, 000 mark, then a withholding tax of 12pc and 5pc is imposed on commercial and industrialist consumers.
According to stats released by Federal Board of Revenue, 90pc of traders do not file tax returns whereas only 5.5 million traders are registered in country thus far.
